Argus Media sees support for Brent at $100/bbl

Due to the present uncertainties globally, crude has been on its longest losing streak since August. According to Azlin Ahmad of Argus Media, crude in the short-term will still go low. "The market is still very vulnerable to the downside and Brent could still fall a few more dollars," she told CNBC-TV18 in an interview.

Ahmad further indicated that there still seems to be some support for Brent at about USD 100 per barrel. For the short-term, she feels Brent prices might not fall below USD 100 unless there is some major negative news from Greece.
The stocks for crude will rise above 500,000 barrels, but gasoline and distillates will probably fall about 850,000 to 1 million barrels, she pointed out.
Last week, the US inventory data was pretty weak. Ahmad believes that the Energy Information Administration (EIA) data would have quite a big impact on the direction in which the crude prices move for the week. "But, the headline news and macro economic sentiment might overshadow the data for this week," she added.
Yesterday, the American Petroleum Institute data showed a very small increase in the crude stocks, which didn